In the first eight months of the year, combined central and local government revenues fell 7.5 per cent from a year earlier to 12.6 trillion yuan (US$4.6 trillion), according to the latest data from the Ministry of Finance. Photo: AP In the first eight months of the year, combined central and local government revenues fell 7.5 per cent from a year earlier to 12.6 trillion yuan (US$4.6 trillion), according to the latest data from the Ministry of Finance. Photo: AP
In the first eight months of the year, combined central and local government revenues fell 7.5 per cent from a year earlier to 12.6 trillion yuan (US$4.6 trillion), according to the latest data from the Ministry of Finance. Photo: AP

No paper, no cups: China’s local authorities further tighten their belts as coronavirus, tax cuts weigh heavy

  • Shandong province on China’s eastern coast plans to cut expenditures on non-essential items by as much as 60 per cent on top of budget cuts already announced
  • China’s economy rebounded in the second quarter, but government revenues have not fully recovered after cuts in taxes and fees aimed at boosting the economy

Topic |   China economy
In the first eight months of the year, combined central and local government revenues fell 7.5 per cent from a year earlier to 12.6 trillion yuan (US$4.6 trillion), according to the latest data from the Ministry of Finance. Photo: AP In the first eight months of the year, combined central and local government revenues fell 7.5 per cent from a year earlier to 12.6 trillion yuan (US$4.6 trillion), according to the latest data from the Ministry of Finance. Photo: AP
In the first eight months of the year, combined central and local government revenues fell 7.5 per cent from a year earlier to 12.6 trillion yuan (US$4.6 trillion), according to the latest data from the Ministry of Finance. Photo: AP
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